Nop inc. had the following income and expenses during the, Ask an Expert

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NOP Inc. had the following income and expenses during the current taxable year. Its income from operations was $250,000, its expenses from operations were $120,000, its dividends received (from a 30 percent-owned corporation)) were $80,000, and it made cash charitable contributions of $30,000.

How much is NOP Inc.'s charitable contribution deduction for the current taxable year?

A. $14,600.

B. $21,000.

C. $26,000.

D. $30,000.

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Accounting Basics, Accounting

Category:- Accounting Basics
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